So you think the problems we have can be solved by coercing all banks to be nicer and GIVE everyone ALL the money they NEED (deserve, want, crave?) at zero interest?
As long as there are minds like yours and B. Dale’s – frozen at about the logical ability of a 6-year old – the fractional reserve banking and fiat money paradigms have nothing to worry about for decades to come. Your thought process is so wrong on so many levels that one wouldn’t even know where to begin with correcting it. Please stop this thread for your own good. If you do end up learning a thing or two about money and economics in, say, ten years, and come back to read your words here, you’d be destroyed by your own stupidity. Please, think + read + nicely ask MUCH more than you write + “teach”, for everyone’s sake but mostly for your own.
Who said anything about giving (gifting money) to people? I’m talking about having money SPENT (earned) into circulation instead of loaned in. How can you charge interest on money that is spent? The only way you can do that is by loaning it. Do you think when money is spent to people that the buyer should have to pay interest on that money to the person he bought something from?
Before money can be spent it must exist and be recognized as common tender. It is more acurate to say that Units of exchange are traded into circulation, by methods of buying and selling. Spending is a poor term.
Money itself is not in a perminant status of “Spent”. As it is passed from person to person as a unit of exchange. If someone should so desire lend their units of exchange to meet someone else’s temporal needs it is logical for them to charge for the risk and the service.
And there is nothing wrong with lending money.
If a seller is in a great deal of dept and he wants to charge greater for his goods he has all the rights in the world to do so. Though if his goods end up costing much more than his competitor he may become insolvent.
You still don’t know what the point of credit is and you don’t understand that it’s a temporal issue. You still refuse to study monetary theory and you still seem to be espoused to Byron Dale as a total zealot. Your only sources are youtube. You might as well get your education from television.
I didn’t. I’m aruging for money to be created and spent into circulation.
Money that is already in circulation can be spent, but 97% of our money supply is not tenderized. The vast majority of our money is bank credit, and the bank credit has to exsist before any other forms of money can (notes, coins, ect). It is 100% false to say that Units of exchange are TRADED into circulation by methods of buying and selling. Units (numbers) are only put into circulation by the LOANING process. Who ever told you otherwise was either confused or lying to you.
“Money itself is not in a perminant status of “Spent”.” This is true, because all money is loaned into circulation.
“As it is passed from person to person as a unit of exchange.” That is a spending process and it is being used to enhance fair trade.
“If someone should so desire lend their units of exchange to meet someone else’s temporal needs it is logical for them to charge for the risk and the service.” This is not what banks do. Banks lend “money” they do not have. Banks only loan a promise to pay, they don’t actually loan anything, and it’s impossible to for the banks to take a loss because they never actually loan anybody anything at all. They only loan numbers which do not consist of any known chemical substance.
Only banks can go insolvent. Businesses go out of business when they can’t service their debts.
I don’t study monetary theory, I study monetary facts. Who cares about some flawed theory when we could actually be studying the facts about how our current monetary system works, then after we identify the problem, and clearly understand it, then works towards a solution.
If you really think I get all my information from youtube you’re either joking or have a mental disorder. U.S. Treasury, The Fed, Modern Money Mechanics, Library of congress, ect. I could sit here and try to tell you the very best peice of writing ever written about our monetary system but you wouldn’t want to read it because it’s not based on some bogus theory meant to make you feel smart while it never touches the root cause of americas financial problems. If it isn’t a belief system for you then it’s no good. Forget the facts, lets just go with what makes us feel good right?
The banking system tried to kill Byron Dale in the early 1980’s for exposing their fraud upon the American people. I highly doubt Byron is a zealot of the banking system.
If you’re a smart enough guy how about you forget theory and start studying how our monetary system acutally functions, and more importantly, who it benifits.